The field of the disclosure relates generally to capturing and analyzing data from check transactions, and more particularly, to network-based systems and methods for capturing, cleansing, and analyzing data from check transactions to identify the merchants associated with those transactions to create or enhance merchant profiles.
At least some payment card processing networks and some payment card issuing banks offer a service that provides additional information for purchasing information found on payment card billing statements. For example, when a payment cardholder is unsure about a charge on his or her billing statement, the cardholder will contact the card issuer. Under the existing service, the issuer enters the description provided on the billing statement, and the service provides a more detailed description of the merchant associated with the payment card transaction. Further, the nature of payment card processing allows payment card processing networks to analyze payment card transactions for patterns to improve fraud analysis. However, these services fail to provide the same options for processed check transactions.